Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. XRP’s recent growth hit a plateau near the $0.39-mark after the recent spike in selling vigor flipped the demand zone into a supply region (green, rectangle). Consequently, the altcoin’s gradual increase in selling pressure […]
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.recent growth hit a plateau near the $0.39-mark after the recent spike in selling vigor flipped the demand zone into a supply region .
Meanwhile, buyers could not find convincing rebounding grounds to stop the breakout’s bleeding. A close above the $0.3319-level would aid buyers in recouping their forces in the short term. At press time, XRP was trading at $0.335.After traversing for seven weeks in an ascending channel , the sellers took charge of the trend to provoke a strong pullback on the chart. The $0.39-level proved to be a strong resistance level for 11 weeks.
The bears might look to exploit weaknesses in this region, especially with the rising gap between the south-looking 20 and 50 EMA.
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